International Seaways (NYSE:INSW) Downgraded to Hold at Stifel Nicolaus

Stifel Nicolaus lowered shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research report released on Wednesday, MarketBeat reports. The firm currently has $56.00 price objective on the transportation company’s stock, down from their prior price objective of $69.00.

INSW has been the topic of a number of other research reports. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of International Seaways in a report on Wednesday, August 7th. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.

International Seaways Stock Down 6.1 %

Shares of NYSE INSW opened at $45.07 on Wednesday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 4.21 and a beta of -0.08. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. International Seaways has a 12 month low of $42.08 and a 12 month high of $65.94. The stock has a 50-day moving average price of $50.62 and a two-hundred day moving average price of $55.02.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The company had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. During the same quarter in the prior year, the company earned $3.12 earnings per share. International Seaways’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, analysts forecast that International Seaways will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. International Seaways’s payout ratio is 4.49%.

Insider Transactions at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.40, for a total value of $98,800.00. Following the sale, the chief executive officer now directly owns 157,475 shares in the company, valued at $7,779,265. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the completion of the sale, the senior vice president now directly owns 53,803 shares in the company, valued at approximately $2,754,175.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total value of $98,800.00. Following the completion of the transaction, the chief executive officer now directly owns 157,475 shares in the company, valued at $7,779,265. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $751,840 over the last ninety days. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On International Seaways

Hedge funds have recently added to or reduced their stakes in the business. U S Global Investors Inc. boosted its holdings in shares of International Seaways by 138.0% during the 3rd quarter. U S Global Investors Inc. now owns 5,373 shares of the transportation company’s stock worth $277,000 after buying an additional 3,115 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in International Seaways by 88.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 71,206 shares of the transportation company’s stock worth $3,671,000 after acquiring an additional 33,392 shares in the last quarter. DMC Group LLC grew its holdings in International Seaways by 27.9% in the third quarter. DMC Group LLC now owns 5,434 shares of the transportation company’s stock worth $280,000 after purchasing an additional 1,185 shares during the period. Blue Trust Inc. bought a new stake in International Seaways in the third quarter valued at $41,000. Finally, Ellsworth Advisors LLC acquired a new position in shares of International Seaways during the third quarter valued at about $481,000. 67.29% of the stock is currently owned by institutional investors.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.